Want To Sell Your House This Spring? Price It Right.

Over the last year, the housing market’s gone through significant change. While it’s still a sellers’ market, homes that are priced right are selling, and they get the most attention from buyers right now. If you’re thinking of selling your house this spring, it’s important to lean on your expert real estate advisor when it comes to setting a list price. As Realtor.com explains:

“Move-in-ready homes with curb appeal and in desirable areas—and that are priced to sell—are especially likely to move quickly this spring.”

In today’s market, how you price your house will not only make a big difference to your bottom line, but to how quickly your house will sell.

Why Pricing Your House Right Matters

Your asking price sends a message to potential buyers, especially today.

If it’s priced too low, you may leave money on the table or discourage buyers who may see a lower-than-expected price tag and wonder if that means something is wrong with the home.

If it’s priced too high, you run the risk of deterring buyers. When that happens, you may have to lower the price to drive interest when your house sits on the market for a while. But be aware that a price drop can be seen as a red flag by some buyers who will wonder what it means about the home.

To avoid either headache, price it right from the start. A real estate professional knows how to determine the ideal asking price. They balance the value of homes in your neighborhood, current market trends, buyer demand, the condition of your house, and more to find the right price. This helps lead to stronger offers and a greater likelihood your house will sell quickly.

The visual below helps summarize the impact your asking price can have:

Bottom Line

Homes priced at the current market value are selling faster and at a better price right now. To make sure you price your house appropriately, maximize your sales potential, and minimize your hassles, let’s connect today.

Why Buying a Home Is a Sound Decision

 

If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment.

This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow.

Home Price Appreciation in the Years Ahead

Over 100 economists, investment strategists, and housing market analysts were polled by Pulsenomics in their latest quarterly Home Price Expectation Survey (HPES). The report indicates what they believe will happen with home prices over the next five years. As the graph below shows, after mild depreciation this year, these experts forecast home prices will return to more normal levels of appreciation through 2027.

The big takeaway is experts aren’t forecasting a drastic fall in home prices nationally, even though some markets will see home price appreciation while others may depreciate. And when they look further out, they see steady price appreciation in the long run. That’s a great example of why homeownership wins over time.

What Does This Mean for You?

Once you buy a home, price appreciation raises your home’s value, and that grows your household wealth. Here’s how a typical home’s value could change over the next few years using the expert price appreciation projections from the survey mentioned above (see graph below):

In this example, if you bought a $400,000 home at the beginning of this year and factor in the forecast from the HPES, you could accumulate over $54,000 in household wealth over the next five years. So, if you’re wondering if buying a home is a sound decision, keep in mind what a strong wealth-building tool it is long term.

Bottom Line

Hey there! Are you thinking about moving to South Carolina? Well, you're in luck because I've got some great reasons why this state is an awesome place to call home. And when it comes to finding your dream home, let me tell you, the Expert Real Estate Team has got you covered. We'll make the process quick and easy so you can focus on settling into your new Southern lifestyle.

So, here are five reasons why people move to South Carolina:

The Weather: South Carolina has mild winters and hot summers, making it a great place for those who love a little bit of everything. Plus, the state is filled with beaches, lakes, and mountains, providing endless opportunities for outdoor activities year-round.

The Food: From low-country boils to sweet tea, South Carolina is known for its delicious Southern cuisine. And if you're a foodie, you'll love the many farm-to-table restaurants that offer fresh, locally-sourced ingredients.

The History: South Carolina played a significant role in the American Civil War and has a rich history that's evident in its many historic sites and landmarks. If you're a history buff, you'll love exploring the state's many museums, battlefields, and plantations.

The People: South Carolinians are known for their Southern hospitality and welcoming nature. You'll quickly feel at home here and may even make some lifelong friends.

The Cost of Living: South Carolina is one of the most affordable states in the country. With low taxes, affordable housing, and plenty of job opportunities, you can enjoy a high quality of life without breaking the bank.

Now, when it comes to finding your dream home in South Carolina, the Expert Real Estate Team is here to help. We know the area like the back of our hand and can help you find the perfect home for your needs and budget. Plus, we'll make the process quick and easy, so you can start enjoying all that South Carolina has to offer in no time. So why wait? Contact us today and let's get started on finding your dream home in the Palmetto State!

Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 in equity over the past year.

If you’re looking for the best ways to use your growing equity, here are four options:

1. Use Your Equity To Buy a Home That Fits Your Needs

If you’re finding you no longer have the space you need, it might be time to move into a larger home. Or, it’s possible you have too much space and would like something smaller. No matter the situation, consider using your equity to power a move into a home that fits your changing lifestyle. Moving into a larger home can provide extra space for remote work or loved ones. Downsizing, on the other hand, may mean saving time and money by caring for a smaller home.

2. Move to the Location of Your Dreams

If the size of your home isn’t a challenge but your current location is, it could be time to relocate to a new area. Maybe you enjoy vacationing in the mountains, at the beach, or another area, and you’re dreaming of living there year-round. Or perhaps the distance between you and your loved ones is greater than you’d like, and you want to close the gap. No matter what, your home equity can fuel your move to the location where you really want to live.

3. Start a New Business

If you’re not ready to move into a new home, you can use your equity to invest in a new business venture. As the U.S. Small Business Administration Office of Advocacy says:

“There is an estimate of 31.7 million small business owners in the United States, many of them started their business with the equity they had in their home.”

While it’s not recommended that homeowners use their equity for unnecessary spending, leveraging your equity to start a business that you’re passionate about can potentially grow your nest egg further.

4. Fund an Education

Whether you have a loved one preparing to head off to college or you’re planning to go back to school yourself, the thought of paying for higher education can be daunting. In either situation, using a portion of your growing equity can help with those costs, so you can make an investment in someone’s future.

Bottom Line

Your equity can help you achieve your goals. If you’re unsure how much equity you have in your home, let’s connect today so you can start planning your next move.

Remodeling your home before selling can be a tough decision to make. It's not always clear whether it's worth investing in renovations and upgrades to attract potential buyers and increase the sale price, or if it's better to sell the property as-is and avoid the expense and hassle of remodeling. If you're planning to sell your home in Greenville, SC, in 2023, you may be wondering whether you should consider remodeling. Here are three points to consider:

1. Remodeling can increase the sale price of your home One of the main reasons why homeowners consider remodeling before selling is to increase the sale price of their property. Upgrading the kitchen, adding a new bathroom, or finishing the basement can make your home more attractive to potential buyers and increase its value. According to a report by Remodeling Magazine, minor kitchen remodels and bathroom additions have the highest return on investment, with an average ROI of 77.6% and 54%, respectively. However, it's important to keep in mind that not all renovations have the same ROI, and some may not be worth the investment.

2. Selling as-is may limit your buyer pool If you choose to sell your home as-is, without making any renovations or upgrades, you may limit your buyer pool. Some buyers may be looking for move-in ready homes and may be turned off by a property that needs significant repairs or upgrades. Additionally, buyers who need financing may be restricted by the type of loan they can get for a home that requires significant repairs or upgrades. FHA loans, for example, have specific requirements for the condition of the property, and homes that don't meet those requirements may not qualify for the loan.

3. The cost and time of remodeling should be considered Before you decide to remodel your home before selling, it's important to consider the cost and time involved in the renovations. Depending on the extent of the work, remodeling can be expensive and time-consuming. If you're working with a limited budget or a tight timeline, remodeling may not be feasible. Additionally, you'll need to factor in the cost of materials, labor, permits, and potential delays or unexpected issues that may arise during the remodeling process.

Considering these points, whether or not you should remodel your home before selling ultimately depends on your financial goals, time frame, and budget. If you're looking to get top dollar for your home and have the resources to invest in remodeling, it may be a good option. On the other hand, if you're looking to sell quickly and don't want to invest too much money or time in the process, selling as-is may be a better choice.

If you're still unsure about whether to remodel your home before selling, you may want to consult with a real estate agent or a professional home stager. They can give you insights into what buyers in your area are looking for, what renovations may be worth making, and how to present your home in the best possible light to potential buyers.

At Expert Real Estate Team, we can help you with all aspects of selling your home in Greenville, SC, in 2023. We have years of experience in the local real estate market and can provide you with expert advice on how to prepare your home for sale, what renovations may be worth making, and how to price your property competitively. Contact us today to learn more about how we can help you sell your home quickly and for top dollar.

Are you a homeowner considering selling your house but feeling uncertain about the current real estate market? According to a recent survey by Nerd Wallet, 67% of respondents believe that the market will crash within the next three years. However, as a professional realtor, I'm here to tell you that there's no need to fear.

In fact, we are currently in a seller's market for most of the market. This means that there is a higher demand for homes than there is supply, leading to increased competition and higher prices. While the market may not be as hot as it was during the peak of the pandemic, it's still a great time to sell your home and take advantage of the gift of equity that the pandemic provided.

Before the pandemic, home prices were already on the rise. However, the pandemic only accelerated this trend and led to a surge in demand from buyers. This resulted in some sellers receiving offers that were significantly higher than their asking price, sometimes by as much as $50,000 to $100,000.

While the market has started to calm down since then, home prices are still higher than they were pre-pandemic. As such, it's a great time to sell your home and take advantage of the equity you've gained. If you wait too long, you run the risk of losing some of this value as the market rebalances.

Furthermore, as we move into the spring, inventory is expected to increase. This means that there will be more homes on the market for buyers to choose from. While this may sound like bad news for sellers, it actually presents an opportunity to capitalize on the high demand for homes.

If you're considering selling your home, now is the time to act. Don't wait for the market to crash or for prices to fall. Take advantage of the current seller's market and get your home sold while the demand is high.

At the Expert Real Estate Team, we're here to help you navigate the market and make the best decision for your needs. Whether you're buying or selling, we can provide you with the information and resources you need to make an informed decision. So give us a call today and let us help you take advantage of the current real estate market.